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that's how the markets will probably react to the fiscal cliff deal. yes, to be sure, the worst effects have been put off, but only for a while. there's still those spending cuts. they've been kicked down the road by two months. there's the $16.4 trillion debt ceiling, which has to be raised. that's been kicked off a couple of months. and then you've got the appropriations, the whole budget process, which will come back before the spring is over. so time and again, the markets in europe are saying we've seen how difficult it is to do these deals. look at what happened with greece, with bailouts, with sovereign debt crises, with the euro zone. it was only at the very last possible minute that compromise was reached, that the big bargain was done. and if you look at the united states, even at a time of, a moment when really both sides needed to do more than the minimum, the markets will be saying they failed to do so. so, yes, they will be relieved, there won't be any immediate reaction, but the markets are certainly putting the politicians on notice tha
that's how the markets will probably react to the fiscal cliff deal. yes, to be sure, the worst effects have been put off, but only for a while. there's still those spending cuts. they've been kicked down the road by two months. there's the $16.4 trillion debt ceiling, which has to be raised. that's been kicked off a couple of months. and then you've got the appropriations, the whole budget process, which will come back before the spring is over. so time and again, the markets in europe are...
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right now the country remains without a deal on the fiscal cliff. although the senate's solution passed by an overwhelming majority this morning, the process has come to a screeching halt on the house side. the number two republican in the house, virginia congressman eric cantor, says he cannot support the bill as it stands now. many republicans say that they are upset the bill doesn't do much to cut federal spending. democrats are demanding the vote but house speaker john boehner has not agreed to let members vote or amend the bill. >> that's fair enough. some have principled opposition. you also have to be pic
right now the country remains without a deal on the fiscal cliff. although the senate's solution passed by an overwhelming majority this morning, the process has come to a screeching halt on the house side. the number two republican in the house, virginia congressman eric cantor, says he cannot support the bill as it stands now. many republicans say that they are upset the bill doesn't do much to cut federal spending. democrats are demanding the vote but house speaker john boehner has not...
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it is like, my god, the fiscal cliff, the fiscal cliff. we'll deal with it in two months. jessica yellin, so much more to talk to you about. we'll check in later, but thanks so much. >>> as we wait for republicans and democrats to come to the microphones, one democrat just left the meeting, he's going to be joining us next. sten to thesy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i switched to progressive. the better i drive, the more i save. i wish our company had something this cool. you're not filming this, are you? aw! camera shy. snapshot from progressive. test-drive snapshot before you switch. visit progressive.com today. to volunteer to help those in need. when a twinge of back pain surprises him. morning starts in high spirits, but there's a growing pain in his lower back. as lines grow longer, his pain continues to linger. but after a long day of helping others, he gets some helpful advice. just two aleve have the strength to keep back pain away all day. today,
it is like, my god, the fiscal cliff, the fiscal cliff. we'll deal with it in two months. jessica yellin, so much more to talk to you about. we'll check in later, but thanks so much. >>> as we wait for republicans and democrats to come to the microphones, one democrat just left the meeting, he's going to be joining us next. sten to thesy progressive customers. i plugged in snapshot, and 30 days later, i was saving big on car insurance. with snapshot, i knew what i could save before i...
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deal or no deal, rolling doesn't fiscal cliff. this is the gridlock in washington. this is your taxes. this is your family. this is your future. visit ireport.cnn.com. share your messages. we'll put it on the air. let us know what you think about all of this. what? [ male announcer ] alka-seltzer plus severe cold and flu fights your worst flu symptoms, plus that cough. [ sighs ] thanks!... [ male announcer ] you're welcome. >>> deal or no deal. we asked you to weigh in on the fiscal cliff debate. here what happens some of you had to say. listen in in my new year's message to washington, this entire fiscal cliff problem isn't just an isolated incident. it's representative of how partisanship and polarization have taken over congress. i'm 18. i used to be excited for the future. but i don't want to live in a country that doesn't have a successful working legislator. congress, it's time for you to remember what your purpose really is, get back to doing your job. >> resolution for washington is to get out of the middle east, learn to live on a budget like every other am
deal or no deal, rolling doesn't fiscal cliff. this is the gridlock in washington. this is your taxes. this is your family. this is your future. visit ireport.cnn.com. share your messages. we'll put it on the air. let us know what you think about all of this. what? [ male announcer ] alka-seltzer plus severe cold and flu fights your worst flu symptoms, plus that cough. [ sighs ] thanks!... [ male announcer ] you're welcome. >>> deal or no deal. we asked you to weigh in on the fiscal...
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well there is one major hurdle left for this fiscal cliff deal that, is a vote later today in the house of representatives, perhaps as early as 1:00 in the afternoon. the senate voted well after the ball dropped in the early hours of the morning, passed overwhelmingly with lots of support from both sides. the final tally was 89-8. >> shouldn't have taken us this long to come to an agreement and this shouldn't be the model for how we do things around here but i appreciate the vice president's willingness to get this done for the country. >> reporter: vice president biden negotiated the deal with senate republicans over the weekend, but he also came to the hill last night to sell democrats on the plan some of whom thought there were too many tax giveaways to the rich in this deal. the plan makes permanent the bush era tax cuts on individuals making under $400,000 a year it also does the same for $450,000 worth of income for families. it also postpones harsh across the board spending cuts for a couple of months and now all eyes turn to the house. the speaker said last night he would hold a
well there is one major hurdle left for this fiscal cliff deal that, is a vote later today in the house of representatives, perhaps as early as 1:00 in the afternoon. the senate voted well after the ball dropped in the early hours of the morning, passed overwhelmingly with lots of support from both sides. the final tally was 89-8. >> shouldn't have taken us this long to come to an agreement and this shouldn't be the model for how we do things around here but i appreciate the vice...
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senate passed a last minute deal to try to keep the country from dropping on the fiscal cliff. here is more on why all eyes are on the house. >> reporter: the senate calmed a lot of fears by passing their measure 89-88 this morning. the house of representatives still has to vote on it sometime today or tomorrow. the means this for americans, income tax rates will increase on couples making more than $450,000 a year or more and individuals bringing in more than 400,000. it blocks spending cuts for military programs and extends federal unemployment benefits for 2 million americans for one year and prevents that spike with milk prices. this all comes after 11th hour and mix mcconnel. >> this should not be the way we do things around here but i think we can say we have done some good for the country >> reporter: house speaker john boehner did not endorse the agreement but has promised a vote on it or a gop amendment right away. he will get back to it in less than four hours and will continue pawing through the more than 750 paint measure. carla campbell, ktvu channel 2 morning news
senate passed a last minute deal to try to keep the country from dropping on the fiscal cliff. here is more on why all eyes are on the house. >> reporter: the senate calmed a lot of fears by passing their measure 89-88 this morning. the house of representatives still has to vote on it sometime today or tomorrow. the means this for americans, income tax rates will increase on couples making more than $450,000 a year or more and individuals bringing in more than 400,000. it blocks spending...
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we have a down tot wire deal. >> the senate passes a bill to ease the pain of the "fiscal cliff." the one final hurtle to cross in the next couple of hours. >> reporter: tens of thousands lined up on the embarcadero to take in the new year's eve fireworks but police say some celebrations turned violent. we'll have the details in a live report. >>> and a ritzy new york couple busted with weapons and a bomb stash. but that's not all. the book that has police so concerned. keep it right here. we'll be back. ,,,, p [ female announcer ] pillsbury crescents on their own are fantastic but add some sauce, pepperoni and cheese and fold up the crescent dough...and presto! tuesday night just became crescent pizza pocket-tastic pillsbury crescents. let the making begin here's a better idea. pillsbury grands! flaky layers biscuits in just 15 minutes the light delicate layers add a layer of warmth to your next dinner. pillsbury grands biscuits dance class, shopping, and more. so do something nice for it. chevron with techron. care for your car. i'm grace lee michelle has the >>> america rings i
we have a down tot wire deal. >> the senate passes a bill to ease the pain of the "fiscal cliff." the one final hurtle to cross in the next couple of hours. >> reporter: tens of thousands lined up on the embarcadero to take in the new year's eve fireworks but police say some celebrations turned violent. we'll have the details in a live report. >>> and a ritzy new york couple busted with weapons and a bomb stash. but that's not all. the book that has police so...
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cliff deal. they passed it early this morning and we're going to talk more about that with neil from role call. he is here with the latest on that. thank you for coming in and talking with us. the senate has approved this and now it goes to the house at some point today. what are the odds that we'll be done with this and what are the odds this is good luck to keep going and keep going and keep going? >> what we saw last night as the senate unveiled its plan and voted on the plan in the wee hours of this morning, we've all lost track of time, we were in the capitol when this was going on, the house leadership came out with a statement that said they would consider the legislation. >> that doesn't sound good. >> they also said they were open to the possibility of promptly amending the legislation which would kick it back to the senate to deal with by thursday. and so we may not be out of the woods yet in terms of how this fiscal cliff deal came together and in any event we still haven't seen congre
cliff deal. they passed it early this morning and we're going to talk more about that with neil from role call. he is here with the latest on that. thank you for coming in and talking with us. the senate has approved this and now it goes to the house at some point today. what are the odds that we'll be done with this and what are the odds this is good luck to keep going and keep going and keep going? >> what we saw last night as the senate unveiled its plan and voted on the plan in the...
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that fiscal cliff has arrived but it looks like a solution is in place. andrea? >> thanks, kelly. your voice sounds a little like mine this morning. >> reporter: indeed. >>> doctors treating secretary of state hillary clinton for a blood clot in her head say they're confident she'll make a full recovery. more from chief science correspondent robert bazell. happy new year, robert. >> reporter: happy new year to you, andrea. the story could be a lot worse. it now appears that hillary clinton was in a dangerous situation, but it's been resolved successfully and every indication says she'll made a full recovery. she had a blood clot in a vein not in her brain but next to her brain. had it grown it could have cause aid small stroke. extensive examination has shown she has not suffered neurological damage. it would have indicated there was a small stroke but there wasn't a stroke. doctors are clear iing away the blood clot with blood thinners and believe she'll be in the hospital a few days and go on to make a full recovery. the news here at presbyterian hospital is very good and we're
that fiscal cliff has arrived but it looks like a solution is in place. andrea? >> thanks, kelly. your voice sounds a little like mine this morning. >> reporter: indeed. >>> doctors treating secretary of state hillary clinton for a blood clot in her head say they're confident she'll make a full recovery. more from chief science correspondent robert bazell. happy new year, robert. >> reporter: happy new year to you, andrea. the story could be a lot worse. it now...
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we don't have a deal at this point. we've gone over the fiscal cliff. so we may not be seeing a recession necessarily looming any time soon but we are probably going to see a lot of slow economic growth. let's say you have a problem with your boyfriend or your girlfriend. you don't know if you're going to make it valentine's day. you're not buying those tickets to paris because you might not make it there. what we looked at in this deal right now, we -- with the tax increase on the $450,000, that 1% of americans, that's raising about $600 billion in new tax revenues. originally they were looking for $1.4 trillion. so we're not even halfway there. then we've got all these spending cuts on the table. we don't know what's going to happen with that. we're kicking the can down the road for another two months. the debt ceiling is still out there. countries around the world are looking at the united states and saying you couldn't get a deal done and you had 15 months when you know you had to do it? so there's a lot of anger for americans. honestly they've seen
we don't have a deal at this point. we've gone over the fiscal cliff. so we may not be seeing a recession necessarily looming any time soon but we are probably going to see a lot of slow economic growth. let's say you have a problem with your boyfriend or your girlfriend. you don't know if you're going to make it valentine's day. you're not buying those tickets to paris because you might not make it there. what we looked at in this deal right now, we -- with the tax increase on the $450,000,...
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but there was an early morning vote on a deal to get us off the fiscal cliff. in just a moment, exactly what senators agreed to and why we're not out of the woods just yet. first, welcome back to news4 today and happy new year to you folks. i'm aaron gilchrist. >> i'm erika gonzalez in for eun yang. >> there's a party. hundreds of people gathering for the annual first-night celebration in alexandria. fireworks lit up the sky in old town at the stroke of midnight there. a lot of fun for the whole family. children had a chance to get their faces painted, do a little dancing there. live music, lots of food as well. 2013 off to a bit of a chilly start. >> meteorologist tom kierein is on the storm team 4 weather deck. how about it, tom? pretty chilly out there? >> the revelers have gone to sleep. it's all quiet now here in northwest washington and it's calm and cold. starting off this morning, we've got a cloudy sky all over the region. as we take a look at the radar, we've had some sprinkles of light rain. those areas in green. passing mainly just south and southea
but there was an early morning vote on a deal to get us off the fiscal cliff. in just a moment, exactly what senators agreed to and why we're not out of the woods just yet. first, welcome back to news4 today and happy new year to you folks. i'm aaron gilchrist. >> i'm erika gonzalez in for eun yang. >> there's a party. hundreds of people gathering for the annual first-night celebration in alexandria. fireworks lit up the sky in old town at the stroke of midnight there. a lot of fun...
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word of a possible deal to avoid that fiscal cliff. the vice president of the united states, joe biden, he is now inside a room, closed door room, meeting with senate democrats. he's trying to sell the plan. it was just a few moment ago we saw him walk by our own dana bash up on capitol hill, with a lot of other reporters going into the room with the senate majority leader harry reid. watch the tape. >> can you flip around. can you flip around? we're going to get the vice president right now. we're going to get the vice president right now. mr. vice president, do you have a deal? >> happy new year. >> mr. vice president, we're live on cnn. do you have a deal? >> happy new year. >> senator reid, how do you feel? got to love live tv. there you go. >> we do love live tv. dana bash doing an excellent job on capitol hill. the vice president smiling broadly, just saying happy new year. here's what we know so far. the house minority leader nancy pelosi, the senate majority leader, harry reid, they have spoken to the president, they have signe
word of a possible deal to avoid that fiscal cliff. the vice president of the united states, joe biden, he is now inside a room, closed door room, meeting with senate democrats. he's trying to sell the plan. it was just a few moment ago we saw him walk by our own dana bash up on capitol hill, with a lot of other reporters going into the room with the senate majority leader harry reid. watch the tape. >> can you flip around. can you flip around? we're going to get the vice president right...
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crucial vote in the senate on a deal to avoid going over the fiscal cliff. cnn has learned that a vote will likely happen tonight before midnight. the house will not vote, however, until tomorrow. here's what we know about the deal on the table right now. it includes an increase in tax rates for families making over $450,000 a year. individuals making over $400,000 a year. it will extend the unemployment benefits that ended on december 29th and it will include an increase in the estate deal -- in the estate tax. is this deal better than no deal? joining me now is the former director of the congressional budget office, and former labor secretary robert reich, author of "beyond outrage, what has gone wrong with our economy and our democracy and how to fix it" among many other books. thank you for joining us. >> certainly. >> bob, i want to ask you because i heard you talking to wolf and i was amazed. you were in a conversation with wolf, with grover norquist. grover norquist said he would probably support this deal, giving cover to rop republicans who said the
crucial vote in the senate on a deal to avoid going over the fiscal cliff. cnn has learned that a vote will likely happen tonight before midnight. the house will not vote, however, until tomorrow. here's what we know about the deal on the table right now. it includes an increase in tax rates for families making over $450,000 a year. individuals making over $400,000 a year. it will extend the unemployment benefits that ended on december 29th and it will include an increase in the estate deal --...
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cliff. early today, dozens of people stopped what they were doing to watch the president's statement thank you miami -- at the museum. they were hoping to hear the president say we've got a deal. instead all they heard was a deal is in sight but not done yet. >> very frustrating that they have been at this for months and months and it's now 12 hours away and we are very close, very, very close, that's great but i would like to see it done. >> this congress has already been called one of the most ineffective in modern history. what happened on capitol hill today only solidified that in many people's minds. we have made it easy for you to track all of the latest developments on the fiscal cliff. just head to our website, wusa9.com, and click on fiscal cliff. >>> 2012 ends tragically for a family of a prince william county police officer. officer chris yung died in a crash at the intersection of nokesville road and piper line in briscoe. deborah joins us live in prince william county with more.
cliff. early today, dozens of people stopped what they were doing to watch the president's statement thank you miami -- at the museum. they were hoping to hear the president say we've got a deal. instead all they heard was a deal is in sight but not done yet. >> very frustrating that they have been at this for months and months and it's now 12 hours away and we are very close, very, very close, that's great but i would like to see it done. >> this congress has already been called...